Donegal GAA are firmly in the million euro club after breaking the barrier for expenditure on county teams in 2018.
This has emerged from the Donegal audited accounts which are due to be presented by treasurer, Alan Boyd, to this year’s Donegal annual Convention which is on tonight (Thursday) in the Abbey Hotel, Donegal Town.
Alan Boyd replaced Cieran Kelly in September as treasurer following Kelly’s shock resignation.
The audited accounts show that Donegal spent €1,007,170 out of an income of €1,419,206 on county teams, football and hurling, in 2018.
Players’ travelling expenses at €271,849, medical expenses of €181,282 and catering at €180,634 are the big ticket items of the expenses.
Clubs are still one of the big funders of the county with the club levy collected from the county’s 40 clubs, amounting to €221,000. Sponsorship of €218,000, grants from Central Council €180,000 and royalties of €92,093 are the other big contributors to the county’s coffers.
Income from fundraising, which has fallen off the cliff in recent years, was down significantly again in 2018 and in fact was almost halved with €94,762 raised compared to €176, 283 in 2017.
While expenditure on county teams was up just over €50,000 for the year, the audited accounts show that overall expenditure was down a little over €16,000. Income for 2018 was also down just over €70,000.
But despite this income exceeds expenditure by €7,267, down significantly on last year’s figure of €64,152.
While income again exceeded expenditure the accounts worryingly also show that current liabilities exceed current assets by €350,782.
Current liabilities include creditors €603,299 - this figure has almost doubled from last year’s figure of €315,518 - and term loan of €105,000 payable within one year.
Current assets of €357,517 are made up of stock €1,000, debtors €156,168, cash at bank €185,849 and money due from Ulster Council €14,500.
The accounts do present the board with major challenges especially with the amount of funding required to fund a successful county in the modern era. The county are also coming to the concluding stages of the development of a county training centre in Convoy and require in the region of €500,000 fairly urgently to match funding granted by Croke Park for the building a suite of dressing rooms and ancillary facilities.
The county’s assets made up of grounds, office equipment and fittings stands at €2.5 million and exceed current liabilities by €2.08 million.
See also: Co. Secretary report on fixtures and gambling